KUALA LUMPUR (Jan 11): TAN CHONG MOTOR HOLDINGS BHD [] says it does not plan to acquire a stake in PROTON HOLDINGS BHD [].
In a statement to Bursa Malaysia on Wednesday, it said that it “has neither received any formal invitation nor has any plan to bid for the stake in the national carmaker, Proton”.
It was responding to a query from Bursa Malaysia Securities over a news report that it was drawaing up a proposal to bid for Proton.
Proton has been in the news that several suitors are keen on Khazanah Nasional’s 42.7% stake in the national car maker.
Earlier on Wednesday, UMW HOLDINGS BHD [] group chairman Tan Sri Asmat Kamaludin said UMW had no plans to acquire Khazanah’s stake in Proton.
He said UMW wanted to focus on its current commitments, including its partnership with Toyota and Perodua.
However, DRB-HICOM BHD [] had on Monday confirmed it has submitted a bid to acquire Khazanah’s stake and it was awaiting a decision by Khazanah.
DRB-Hicom said it had always viewed Proton as an important automotive industry player.
In a statement to Bursa Malaysia on Wednesday, it said that it “has neither received any formal invitation nor has any plan to bid for the stake in the national carmaker, Proton”.
It was responding to a query from Bursa Malaysia Securities over a news report that it was drawaing up a proposal to bid for Proton.
Proton has been in the news that several suitors are keen on Khazanah Nasional’s 42.7% stake in the national car maker.
Earlier on Wednesday, UMW HOLDINGS BHD [] group chairman Tan Sri Asmat Kamaludin said UMW had no plans to acquire Khazanah’s stake in Proton.
He said UMW wanted to focus on its current commitments, including its partnership with Toyota and Perodua.
However, DRB-HICOM BHD [] had on Monday confirmed it has submitted a bid to acquire Khazanah’s stake and it was awaiting a decision by Khazanah.
DRB-Hicom said it had always viewed Proton as an important automotive industry player.
